Indexing, exchange rate policy and effects of inflationary feedback in Latin America
This paper examines inflationary adjustment processes in Argentina, Brazil,Chile, Ecuador, Peru, and Uruguay with time-varying estimation techniques to determine therelationship between inflationary inertia or feedback effects from past to current inflationand the degree of indexation of wages and e...
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| Tipo de recurso: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 1986 |
| País: | Brasil |
| Institución: | EDITORA 34 |
| Repositorio: | Revista de Economia Política |
| Idioma: | portugués |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/1822 |
| Acceso en línea: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1822 |
| Access Level: | acceso abierto |
| Palabra clave: | Cambio inflação inércia estabilização política salarial Exchange rate inflation stabilization wage policy |
| Sumario: | This paper examines inflationary adjustment processes in Argentina, Brazil,Chile, Ecuador, Peru, and Uruguay with time-varying estimation techniques to determine therelationship between inflationary inertia or feedback effects from past to current inflationand the degree of indexation of wages and exchange rates to past inflation rates. The resultsshow that reductions in the degree of exchange rate linkage to past inflation have not beenparticularly helpful in larger or relatively more diversified economies (such as Argentina,Brazil, or Chile), while reductions in wage linkages to past inflation rates have had strongbut short-lived effects. JEL Classification: F31; E31; J38. |
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